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| Bitcoin |
BTC reached an all-time high of $106,533 and was trading 2.2% higher at $104,646 in the past 24 hours as of 10:07 AM IST. Ethereum, the second-largest cryptocurrency, also rose 1.5%, trading at $3,954 during the same period.
"This remarkable surge is largely attributed to recent comments from U.S. President-elect Donald Trump, who confirmed plans to explore Bitcoin as a potential reserve asset for the United States. The announcement has sparked interest and optimism in the market, contributing to a nearly 5.56% increase over the past week," said Shivam Thakral, CEO of BuyUcoin.
Meanwhile, Vikram Subburaj, CEO of Giottus, said, "Bitcoin set a new high above $106,000 today and is consolidating above $104,000 currently. The top crypto asset continues to be bullish on lower timeframes and with a US interest rate cut announcement likely this week, it can take out $110,000 before any retracement. This will be helped by spot ETF inflows which were considerably solid last week."
Investor sentiment also improved following the inclusion of MicroStrategy in the Nasdaq 100 index, a move likely to attract further inflows for the software firm, which has been a significant Bitcoin buyer.
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